Lotte Shopping Co., Ltd. completed the acquisition of 70% stake in Lotte Incheon Town Co.,Ltd. from LOTTE Corporation.
May 26, 2019
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Lotte Shopping Co., Ltd. (KOSE:A023530) agreed to acquire 70% stake in Lotte Incheon Town Co.,Ltd. from LOTTE Corporation (KOSE:A004990) for KRW 9.7 billion on May 15, 2019. Lotte Shopping Co., Ltd. will acquire 0.7 million shares of Lotte Incheon Town Co.,Ltd. at KRW 6929 per share. Upon completion, Lotte Shopping Co., Ltd. will acquire 79% stake and LOTTE Corporation, Lotte Engineering & Construction Co., Ltd. and Hotel Lotte Co., Ltd. left with no holdings in Lotte Incheon Town Co.,Ltd. The Board of Directors passed a resolution for the transaction on May 15, 2019. Board of Directors meeting of Lotte Shopping Co., Ltd. held on May 24, 2019. The transaction is expected to be completed on May 27, 2019.
Lotte Shopping Co., Ltd. (KOSE:A023530) completed the acquisition of 70% stake in Lotte Incheon Town Co.,Ltd. from LOTTE Corporation (KOSE:A004990) on May 27, 2019.
Lotte Shopping Co Ltd is a Korea-based company mainly engaged in the operation of department stores. The Company operates its business through six segments. The Department Store segment is involved of the installation and operation of department stores such as Lotte Depart Store. The Company operates its department stores within the domestic market and to overseas markets, including Vietnam, Russia, Indonesia and China. The Discount Store segment is involved of the installation and operation of discount stores. The Electronics Store segment is engaged in the sale of home appliances and computers and communication devices. The Super segment is engaged in the operation of supermarkets and the rental of real estate. The Home Shopping segment mainly engages in home shopping and e-commerce business through Internet shopping mall and mobile. The Other segment engages in the businesses including the sale of cosmetics, food and other consumer goods, the operation of movie theaters and others.
LOTTE SHOPPING CO., LTD. 
